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Little Impact Seen From China Private Capital Push
SHANGHAI—China's pledge to give private capital real access to the nation's lucrative banking sector has triggered more skepticism than excitement, with analysts saying entry barriers remain firmly in place.
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- Asia Pacific
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- microfinance
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Yes, Microfinance Does Work. Here’s How…
By now, anyone with an interest in microfinance or poverty alleviation has read the criticism. There are tragic crises in Andhra Pradesh, the regrettable stepping-down of Muhammad Yunus from Grameen, and provocative headlines in the media claiming to refute microcredit's effectiveness. However, I feel strongly that if readers listen only to the white noise, they'll do themselves and the microfinance industry a disservice and, more to the point, they'll be misled.
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- South Asia
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India Government Introduces Bill to Regulate Microfinance
NEW DELHI – The Indian government Tuesday introduced a bill in Parliament that will give power to the country's central bank to regulate the microfinance sector, where companies lend to small borrowers.Introduced in the lower house of Parliament by Finance Minister Pranab Mukherjee, the Microfinance Institutions (Development and Regulations) Bill will give powers to the Reserve Bank of India to set the maximum interest rate that can be charged by micro lenders.The RBI will also set performance standards for the institutions and ensure that they use "fair and reasonable methods" for the recovery of loans.
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- microfinance
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Grameen Foundation, KfW and CARE’s Access Africa Fund Invest in World’s First 100% Mobile Microfinance Institution
Grameen Foundation, KfW and CARE's Access Africa Fund announced they have each purchased a 25 percent stake in Musoni Kenya, the first microfinance institution to provide financial services to the poor entirely via mobile phones. Based in Nairobi, Kenya, it provides microloans largely to people who are underserved by the formal financial sector. This investment will help Musoni Kenya grow its operations, deepen its penetration in rural areas where financial inclusion is lowest, and pave the way for it to receive a license to accept savings deposits from the Central Bank of Kenya.
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- Technology
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- Sub-Saharan Africa
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- microfinance
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Nachiket Mor: The Business Of Morality
In India, businesses and businessmen, particularly from the private sector, have always been viewed with some suspicion. Given our underlying socialist ethos, this is perhaps not surprising, but in recent times, this has worsened with reportage about the various means that some businesses have used to gain an advantage, be it bribing government officials and elected representatives, indulging in coercive practices with their customers, misusing monopoly power, concealing information, or ill-treating employees.
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- Health Care
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- South Asia
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World Bank unit, MasterCard Foundation boost crucial small loans in Africa
A World Bank partner devoted to developing the private sector and The MasterCard Foundation will spend millions of dollars so more impoverished Africans can get loans and other financial services, officials said.
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NexThought Monday: How Innovative Financing Mechanisms Are Helping Afghanistan’s Farmers
It’s not easy to improve farmers’ livelihoods in any developing country. Add in ongoing violence, feeble institutions, and some of the lowest living standards in the world, and the task can seem nearly impossible. But in August 2010, a project team from DAI landed in Afghanistan to do just that—by implementing USAID’s Agricultural Credit Enhancement (ACE) program, which aimed to lend $100 million to farmers and agribusinesses to invest in agriculture across the country.
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- Agriculture, Education
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Via London and Seattle, Microfinance and Carbon Credits Intersect in Ulaanbaatar
In the Mongolian capital city of Ulaanbaatar, more than a quarter of the population lives in “gers,” the traditional and ubiquitous tent-like structures, which are often insulated and heated by inefficient coal-burning stoves that contribute to stifling air pollution. A new multi-player partnership to finance carbon credits and energy efficiency aims to change that.
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- Environment